A mail-order firm processes 6,200 checks per month. Of these, 60 percent are for $52 and...
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A mail-order firm processes 6,200 checks per month. Of these, 60 percent are for $52 and 40 percent are for $84. The $52 checks are delayed three days on average; the $84 checks are delayed four days on average. Assume 30 days in a month. |
| a-1. | What is the average daily collection float? (Do not round intermediate calculations.) |
47120-answer for a-1
| a-2. | How do you interpret your answer? (Do not round intermediate calculations.) |
| b-1. | What is the weighted average delay? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| b-2. | Calculate the average daily float. (Do not round intermediate calculations.) |
| c. | How much should the firm be willing to pay to eliminate the float? (Do not round intermediate calculations.) |
| d. | If the interest rate is 7 percent per year, calculate the daily cost of the float. (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| e. | How much should the firm be willing to pay to reduce the weighted average float to 1.5 days? (Do not round intermediate calculations.) |
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A mail-order firm
processes 6,200 checks per month. Of these, 60 percent are for $52
and...
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A mail-order firm processes 5,600 checks per month. Of these, 60 percent are for $46 and 40 percent are for $78. The $46 checks are delayed three days on average; the $78 checks are delayed four days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round intermediate calculations.) Average daily collection float a-2. How do you interpret your answer? (Do not round intermediate calculations.) On average, there is that is...
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Problem 27-6 Using Weighted Average Delay A mail-order firm processes 6,300 checks per month. Of these, 70 percent are for $53 and 30 percent are for $85. The $53 checks are delayed two days on avera...
Problem 27-6 Using Weighted Average Delay A mail-order firm processes 6,300 checks per month. Of these, 70 percent are for $53 and 30 percent are for $85. The $53 checks are delayed two days on average; the $85 checks are delayed three days on average. Assume 30 days per month a-1.What is the average daily collection float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily collection float 210 a-2. How...
e. How much should the firm be willing to pay to reduce the weighted average float...
e.
How much should the firm be willing to pay to reduce the
weighted average float to 1.5 days? (Do not round
intermediate calculations.)
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In a typical month, the Monk Corporation receives 90 checks totaling $132,000. These are delayed three days on average. What is the average daily float? Assume 30 days in a month. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Your neighbor goes to the post office once a month and picks up two checks, one...
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Problem 17-5 Calculating Float (LO 1) In a typical month, the Pier Corporation receives 100 checks totaling $132,000. These are delayed five days on average. Assume 30 days in a month. What is the average daily float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily float
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A mail-order firm processes 5,600 checks per month. Of these, 60 percent are for $46 and 40 percent are for $78. The $46 checks are delayed three days on average; the $78 checks are delayed four days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round intermediate calculations.) Average daily collection float a-2. How do you interpret your answer? (Do not round intermediate calculations.) On average, there is that is...
A mail-order firm processes 4,500 checks per month. Of these, 60 percent are for $35 and 40 percent are for $67. The $35 checks are delayed two days on average; the $67 checks are delayed three days on average. Assume 30 days per month. a-1. What is the average daily collection float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) a-2. How do you interpret your answer? b-1. What is the weighted...
Problem 27-6 Using Weighted Average Delay A mail-order firm processes 6,300 checks per month. Of these, 70 percent are for $53 and 30 percent are for $85. The $53 checks are delayed two days on average; the $85 checks are delayed three days on average. Assume 30 days per month a-1.What is the average daily collection float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily collection float 210 a-2. How...
e.
How much should the firm be willing to pay to reduce the
weighted average float to 1.5 days? (Do not round
intermediate calculations.)
A mail-order firm processes 6,100 checks per month. Of these, 60 percent are for $51 and 40 percent are for $83. The $51 checks are delayed two days on average; the $83 checks are delayed three days on average. Assume 30 days in a month. a-1. What is the average daily collection float? (Do not round...
Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. What is the average daily float? (Do not...
Your neighbor goes to the post office once a month and picks up two checks, one for $14,300 and one for $5,300. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a. What is the total float for the month? b. What is the average daily float? (Round your answer to 2 decimal places, e.g.. 32.16.) c-1. What are the average daily receipts? (Do not...
Problem 17-5 Calculating Float (LO 1) In a typical month, the Pier Corporation receives 100 checks totaling $132,000. These are delayed five days on average. Assume 30 days in a month. What is the average daily float? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Average daily float
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